Industry News

Yi Yun Movers, a Singapore-based moving company, is revamping its operations to stay competitive as the moving industry evolves. With the sector valued at $59.48b in 2024 and projected to reach $100.16b by 2033, the company is focusing on operational efficiency, safety, and coordination to meet rising customer expectations.

As customers demand clearer quotations, faster responses, and careful handling of belongings, Yi Yun Movers is prioritising safe handling, flexible scheduling, and end-to-end service coordination. “Meeting these expectations requires tighter planning and consistent execution,” said Liang, Sales Manager of Yi Yun Movers.

The company is also integrating technology to enhance operations. GPS software is being used for route planning and fleet management, providing real-time traffic data, calculating efficient routes, and tracking vehicles. This ensures faster service delivery and improves customer communication.

Whilst large-scale automation is not yet feasible for many small and medium enterprises (SMEs), incremental adoption of digital tools is seen as essential. Yi Yun Movers is exploring AI-assisted Customer Relationship Management (CRM) to automate customer interactions and personalise communication.

As Singapore’s moving and storage sector continues to grow, Yi Yun Movers aims to refine its processes and maintain service standards. By focusing on operational discipline and adaptability, the company is positioning itself to effectively address the evolving needs of the market.

Singapore has been ranked first globally in the DHL Global Connectedness Report 2026, underscoring its exceptional depth in trade and capital flows. Despite geopolitical tensions and rising US tariffs, globalisation remains robust, with the Asia Pacific region strengthening its position as a global trade anchor. The report, produced with New York University’s Stern School of Business, highlights Singapore’s leading role in international trade and investment.

The Asia Pacific region, including Southeast Asia, Northeast Asia, and Oceania, has shown significant gains in global connectedness. East Asia and the Pacific’s share of world trade increased from 24% in 2001 to 32% in 2025. Notable advancements in the global connectedness ranking include Malaysia, Thailand, Korea, Taiwan, and Vietnam.

Ken Lee, CEO of DHL Express Asia Pacific, remarked, “Asia Pacific continues to demonstrate extraordinary resilience and adaptability.” He emphasised the region’s deepening global ties and the importance of supporting businesses to diversify their markets.

The report also notes a surge in trade of AI-related goods, which accounted for 42% of goods trade growth in the first three quarters of 2025. Countries like Taiwan, Korea, Singapore, and Malaysia are benefiting from increased demand for AI infrastructure.

Looking forward, global goods trade is expected to grow by an average of 2.6% annually through 2029, despite recent US tariff hikes. The report concludes that Asia Pacific remains pivotal in sustaining global connectivity, with people flows reaching new highs and capital flows remaining resilient.

Seatrium Limited has been awarded its eighth Floating Storage Regasification Unit (FSRU) conversion contract by Karpowership, marking a significant milestone in their longstanding partnership. The project, scheduled to commence in the third quarter of 2026, involves converting the LNG tanker Karadeniz into Karpowership’s first high-capacity FSRU, capable of delivering a regasification capacity of up to 600 million standard cubic feet per day.

This contract follows a letter of intent signed in August 2025 and underscores Seatrium’s dominance in the FSRU conversion market, having completed over 90% of the world’s FSU/FSRU conversions. Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, stated, “This contract win reinforces our global leadership, having done over 90% of the world’s FSU/FSRU conversions.”

Gokhan Kocak, Chief Technical Operations Officer at Karpowership, expressed confidence in Seatrium’s capabilities, noting, “Seatrium’s proven track record, deep engineering expertise and technical capabilities make them a trusted and invaluable partner in advancing our mission to deliver reliable and sustainable energy solutions worldwide.”

Seatrium’s latest achievement brings its total FSRU and FSU conversion projects to 23, highlighting its engineering expertise and commitment to safety. This partnership with Karpowership not only strengthens Seatrium’s position in the global LNG-to-power market but also aligns with the ongoing transition towards cleaner energy solutions.

The Institution of Engineers, Singapore (IES) and Ngee Ann Polytechnic (NP) have announced significant initiatives to advance Singapore’s manufacturing sector during the World Engineering Day 2026 event. Held at NP’s Convention Centre, the event was graced by Indranee Rajah, Minister in the Prime Minister’s Office, and focused on the theme “Engineers and the Future of Engineering: Opportunities of Emerging Technologies.”

NP, in collaboration with Siemens, will launch a smart manufacturing platform designed to assist small and medium-sized enterprises (SMEs) in adopting Industry 4.0 technologies. This platform integrates digital technologies, automation, and data analytics, allowing companies to pilot solutions before full-scale deployment. Additionally, NP and the Agency for Science, Technology and Research (A*STAR) will introduce Singapore’s first stackable Specialist Diploma in Smart Manufacturing. This programme aims to equip industry professionals with skills in artificial intelligence and automation.

The event also saw the launch of new national standards for healthier indoor environments, developed by the IES-Standards Development Organisation. These standards focus on hybrid cooling systems and energy-efficient measures to improve indoor air quality.

As part of its 60th anniversary celebrations, IES unveiled a commemorative logo, marking its contributions to engineering in Singapore. The year-long IES60 milestone will include various programmes and engagements to highlight the evolving role of engineers.

The World Engineering Day 2026 event featured insights from distinguished speakers on technological transformation and the future skills required for engineers, underscoring the importance of innovation in sustainable development.

Equator Renewables Asia (ERA), led by entrepreneur Frank Phuan, has successfully raised S$50m to fund large-scale solar, green hydrogen, and sustainable industrial zone projects across Indonesia. This investment is supported by Indonesia’s KPN Corporation and Singapore-based Tsao Pao Chee, who have collectively contributed S$30m. The remaining S$20m comes from Phuan and ERA’s management team.

The funds will facilitate ERA’s ambitious plans to import up to 400 megawatts of renewable power from Indonesia, following conditional approval from Singapore’s Energy Market Authority. This initiative aligns with the Memorandum of Understanding signed between Singapore and Indonesia on 13 June 2025, which aims to develop a Sustainable Industrial Zone in the Batam, Bintan, and Karimun regions. The project is part of a broader effort to cut carbon emissions and achieve net zero by 2050 and 2060 for Singapore and Indonesia, respectively.

Brian J. Chen, Director of KPN, highlighted the synergy of the investment, stating, “KPN controls extensive landbanks from its agribusinesses across Indonesia. We are committed to repurposing portions of this land for utility-scale solar, battery storage, and green hydrogen production.” Robin Pho, Managing Director of Energy Transition at TPC, added that their strategy focuses on enabling decarbonisation and supporting the restoration of natural systems.

ERA’s project portfolio in Indonesia includes solar PV developments with a capacity of 2.2 gigawatts peak, 3.2 gigawatt-hours of battery energy storage systems, and new green hydrogen production initiatives. This venture represents a significant step towards the ASEAN Power Grid initiative, aiming to enhance regional energy security and resilience.

Singapore’s job market is showing signs of recovery, according to the latest ManpowerGroup Employment Outlook Survey. The survey, which gathered responses from 538 employers, reveals a seasonally adjusted Net Employment Outlook (NEO) of 24% for the second quarter (Q2) of 2026. This marks a 10-point increase from the previous quarter, following two consecutive quarters of decline.

The Information sector leads the charge with the strongest outlook, reporting a 41% NEO, an 18-point increase from the previous quarter. This sector’s growth is attributed to the widespread adoption of artificial intelligence (AI) across workforce strategies. Notably, 82% of employers in Singapore are already utilising AI in hiring, onboarding, or training processes, surpassing both the Asia Pacific and Middle East average of 81% and the global average of 67%.

Despite the positive outlook, the survey highlights uneven returns on investment (ROI) from AI adoption. Learning and development are cited by 32% of employers as delivering the highest ROI, whilst scheduling, forecasting, and team performance follow. However, only 4% of employers report that AI fully meets expectations in hiring and training, with 10% seeing no positive ROI to date.

The survey underscores the dynamic nature of Singapore’s employment landscape, driven by technological advancements and sector-specific growth. As companies continue to expand and integrate AI, the job market is poised for further transformation in the coming months.

DBS Bank has announced the expansion of its foreign exchange service, DBS SecureFX, to all corporate customers in Singapore. Initially launched in March 2025 for small and medium-sized enterprises (SMEs), the service allows businesses to lock in FX rates directly within DBS IDEAL, providing greater certainty in managing foreign exchange risk. This expansion comes as 83% of SMEs plan to internationalise in 2026, according to DBS’ Business Pulse Check Survey.

The service’s popularity is evident, with approximately 60% of DBS Singapore’s SME FX customers already utilising it for cross-border payments. The expansion aims to support more businesses amidst rising implied volatility in currencies such as the euro, Japanese yen, and British pound, driven by ongoing macroeconomic uncertainties.

Eileen Chia, Regional Head of Corporate Advisory, Global Financial Markets at DBS, stated, “Whilst global markets are moving through a period of heightened volatility, this also presents opportunities for businesses that are ready to scale beyond their home markets. Companies that take a more strategic approach to managing their foreign exchange exposures are often better positioned to seize regional opportunities, strengthen supplier relationships and plan with greater clarity.”

DBS SecureFX enables businesses to lock in preferred FX rates for five currency pairs, including USD/SGD and EUR/USD, up to one month in advance. This service supports payments up to $1m without requiring credit lines or upfront cash commitments. The expansion is part of DBS’s commitment to leveraging digital capabilities and financial market expertise to aid enterprises in their overseas growth efforts.

City Square Mall (CSM) has completed a S$50m Asset Enhancement Initiative (AEI), transforming it into a vibrant community hub. Officially launched by Eric Chua, Senior Parliamentary Secretary for the Ministry of Law and Ministry of Social and Family Development, the revamp introduces CONNECT @ City Square Mall, a community space developed with the National Council of Social Service. This space unites five social service agencies to support children and families.

The mall, which opened in 2009 as Singapore’s first eco-mall, now features enhanced green spaces, including the updated City Green park with two revamped playgrounds. The refurbishment also includes new dining and lifestyle concepts, such as Gastro Square, a 24,000 square foot dining destination offering international cuisines and hosting events and workshops.

Sherman Kwek, Group CEO of City Developments Limited, stated, “City Square Mall now offers a more dynamic retail experience, with vibrant spaces and a refreshed tenant mix.” The mall has achieved nearly 100% occupancy, supported by strong footfall and leasing momentum.

Sustainability remains a core focus, with upcycled materials used in interior upgrades and the expansion of the CDL MicroForest. The mall aims to become the first in Singapore to achieve certification under the Singapore Environment Council’s Eco Spaces framework by 2026.

With its refreshed interiors, expanded green areas, and enhanced programming, City Square Mall reemerges as a vibrant, inclusive community hub, blending heritage, community, and sustainability.

Moomoo Singapore has launched its third physical store in Bugis, marking its largest location in Southeast Asia. This new store is part of Moomoo’s “phygital” strategy, which blends digital trading with offline engagement to offer a comprehensive experience for investors. Alongside the store opening, Moomoo Singapore has entered a strategic partnership with the Securities Investors Association (Singapore) (SIAS) to advance investor education and literacy.

The Bugis store, following successful openings at 313@Somerset and Jem, aims to transform into a learning ecosystem for investors. Jeyson Ng, CEO-Designate of Moomoo Singapore, highlighted the demand for meaningful investor engagement, stating, “Our physical stores allow us to complement our digital platform with real-world engagement.”

The partnership with SIAS will broaden outreach to retail investors through investment literacy programmes, workshops, and community engagements. Selected SIAS-led programmes may be hosted at the Bugis hub, enhancing access to structured learning opportunities. Ang Hao Yao, Vice President of SIAS, emphasised the importance of investment literacy for informed market participation.

Moomoo Singapore’s efforts extend beyond education, aiming to strengthen connections within Singapore’s capital markets ecosystem. By fostering engagement between listed companies and retail investors, Moomoo Singapore seeks to enhance market discovery and contribute to a vibrant investment landscape.

Seatrium Limited has finalised the divestment of its Karimun Yard on Karimun Island, Indonesia, as of 9 March 2026. This move is part of a broader strategy to offload non-core assets, which is anticipated to result in annualised cost savings exceeding S$50m.

The divestment aligns with Seatrium’s ongoing efforts to streamline operations and focus on its core business segments, which include Oil & Gas Newbuilds and Conversions, Offshore Wind, and Repairs & Upgrades. The company, headquartered in Singapore, is a key player in the global offshore, marine, and energy sectors, with a presence in 15 countries and a workforce of over 24,000 employees.

Seatrium’s strategic repositioning comes amidst a global shift towards sustainable energy solutions. The company is enhancing its capabilities in new technologies, such as Carbon Capture & Storage and New Energies, to support the energy transition. Seatrium’s commitment to innovation and sustainability is underscored by its longstanding relationships with major energy companies and asset operators worldwide.

The completion of the Karimun Yard divestment marks a significant step in Seatrium’s strategy to optimise its asset portfolio and reinforce its role in the evolving energy landscape. The company continues to prioritise safety, quality, and timely delivery in its operations, aiming to create lasting value for its stakeholders.